The decision to extend the work of the US government slightly affected the US dollar rate and did not give any support.
As it became known, the US Congress approved measures yesterday, which allowed to resume funding and extend the work of the US government until early February this year. The democrats made concessions and voted for these measures only in return for the Republicans' promise to submit a bill on immigration.
This should be done before February 8, as it is exactly up to this date that the US government will be funded.
Let me remind you that the main problem is the law on immigration, which creates milder conditions for migrants, especially with regards to the children. Republicans, on the one hand, are also in favor of its adoption, but on the terms of building a wall with Mexico, which was one of the points of the election campaign of the current US president, Donald Trump.
The absence of an important fundamental statistics leaves the trade in the EUR/USD pair in the side channel.
Yesterday's data from the Fed-Chicago were ignored by the market. According to the report, the index of national activity of the Fed-Chicago in December 2017 increased by 0.27 points, against 0.11 points in November. The 3-month moving average of the national activity index in December added 0.42 points, against 0.43 points in November.
The lack of important statistics at the beginning of the week also forces traders to speculate on the statements to be made by European Central Bank President Mario Draghi at the ECB meeting on January 25.
A number of experts expect that at its meeting on January 25, the European Central Bank is unlikely to announce a policy change. However, important statements will be made regarding future changes in the asset purchase program. Most of the questions can be devoted to the essence of these changes, including when exactly they will occur.
As for the technical picture of the EUR/USD pair, the trade continues in the side channel, the lower border of which is located at 1.2210, and the upper one passes in the area of 1.2295. The breakthrough of this channel in either side will lead to the formation of a more trendy, purposeful movement. While everything is on the side of buyers of risky assets, and the breakthrough of the 1.2295 range opens up good prospects for upgrading to 1.2350 and 1.2390.
